Land sales and home prices showed some improvement in China's property market, Reuters reported.
Government land sales rose for the first time in two years, while prices saw their fastest rise since mid-2021.
AdvertisementReal estate in China may finally be nearing the end of a yearslong slide, with home prices and land sales demonstrating fresh strength, Reuters reported.
Average city prices rose 0.15% month-on-month in January, marking the fastest gain since mid-2021.
Government land sale revenue that month also notched a 1.8% gain from a year prior, the first time sales rose in 23 months, the outlet said.
Persons:
Fitch, —, overbuilding
Organizations:
Reuters, Service, Fitch
Locations:
China, Beijing